New Bridge May Boost Canadian Buyers in Detroit Real Estate Market

Detroit, Michigan – A new international bridge may ease challenges for Canadian buyers looking to invest in the U.S. real estate market. Canadian buyers have been traveling from Windsor, Ontario, to Detroit for years, but recent economic factors have slowed their interest.

Samantha Shelton, a mortgage broker and founder of Align Lending in Waterford, Michigan, noted that prior to the pandemic, it was common for Canadians to cross the border for investment properties and primary residences. However, factors like high interest rates, affordability issues, and currency exchanges have caused a decline in cross-border transactions.

“Before COVID-19, we noticed many Canadians investing in real estate here. That slowed significantly when the border closed, and while traffic is returning, the momentum hasn’t fully picked up again,” Shelton stated.

Additionally, uncertainty from tariffs has further complicated matters for Canadian buyers. “Heightened tariffs and exchange rates make Canadians wary. The cost of materials remains high, impacting affordability for all buyers,” she explained.

In light of these challenges, Shelton has been devising creative solutions for her clients, including bridge loans to assist with currency issues. She said local Michigan buyers are also facing the impacts of higher prices and interest rates, which have created a demand for temporary assistance solutions.

The anticipated Gordie Howe International Bridge, named after the famed hockey player, is 98 percent complete and could significantly enhance cross-border travel. Originally expected to open in September, delays may push the opening into 2026.

“I believe this new bridge will change the game by making travel easier and more efficient for Canadian buyers,” Shelton said. She hopes it will revive interest from potential Canadian investors.

As communication decreases from Canadian buyers, she urges anyone interested in buying to consult local mortgage brokers who understand the nuances of cross-border home purchases. “Make sure to work with someone knowledgeable about purchasing a home in Metro Detroit,” she advised.